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National Capital Bank Helps its Small Businesses Receive over $60 Million from the SBA Paycheck Protection Program

June 08, 2020 / The National Capital Bank of Washington

National Capital Bank (NCB) announced today it has helped its small business clients receive over $60 million from the Small Business Association's (SBA) Paycheck Protection Program (PPP). Established by the CARES Act and implemented through the SBA, the Paycheck Protection Program authorized up to $649 billion in loans designed to help small businesses and nonprofit organizations, as well as independent contractors and sole proprietors keep their workforce employed during the COVID-19 crisis.  Loan proceeds are helping businesses maintain payroll, hire back employees who may have been laid off and cover specified overhead expenses.